RCCH Merger Approved by LifePoint Shareholders

Should the LifePoint-RCCH deal be finalized, the both health systems would form a joint venture with $8 billion in combined revenue.

The proposed LifePoint Health-RCCH HealthCare Partners merger has been approved by shareholders of LifePoint Health

According to reports emanating from the health system, majority of the shareholders voted that the deal be approved. The health system announced that the deal was slated to close by the end of the year. Stockholders will earn $65 per share once the merger is finalized.

In July, the Tennessee-based LifePoint announced that it would be acquired by Apollo Global Management, the private equity firm that owns RCCH, for $5.6 billion. The newly formed joint health system would operate under the LifePoint brand.

LifePoint‘s CEO Bill Carpenter was initially channeled to head the unified system, but last month, he announced that he intends to retire once the merger is completed. Chief Operating Officer David Dill will take over for Carpenter.

Should the LifePoint-RCCH deal be finalized, the both health systems would form a joint venture with $8 billion in combined revenue. It would include 84 non-urban hospitals across 30 states and regional physician practices, outpatient centers and post-acute providers, encompassing 7,000 doctors, 16,000 employees and 24,000 beds.